Semiconductor Memory Global Market Report 2024

The semiconductor memory market size has grown strongly in recent years. It will grow from $95.55 billion in 2023 to $101.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The expansion observed in the historical period can be attributed to rapid innovation cycles, industry consolidation, trends in cost reduction, the evolving needs of enterprise computing, and the demand for consumer electronics.

The semiconductor memory market size is expected to see strong growth in the next few years. It will grow to $127.5 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period can be attributed to market demand dynamics, considerations of production capacity and supply chain management, emerging applications, competitive forces and market strategies, as well as regulatory and trade factors. Major trends expected in this forecast period include the rise of edge computing, a growing demand for low-power memory solutions, applications of AI and machine learning, the emergence of 3D NAND technology, and a shift toward non-volatile memory solutions.

The semiconductor memory market is poised for growth, driven by the increasing usage of smart devices. These wireless gadgets, connecting to apps, the internet, or other devices, heavily rely on semiconductor memory as a vital component for storing and processing vast amounts of data. Data Conomy reported in September 2022 that the global average of connected smart devices and home appliances per household reached 17.1 by the end of June 2022, marking a 10% increase from the previous year. This surge in smart device usage is a key factor propelling the semiconductor memory market forward.

The driver for the semiconductor memory market is the escalating demand for electronic devices. These devices, utilizing electronic components for various functions, showcase diverse uses of semiconductor memory - from temporary storage for active processes to storing firmware and providing high-capacity, non-volatile storage for data and applications. According to the Japan Electronics and Information Technology Industries Association, electronic device production in Japan accounted for $6,722 million (¥771,457 million) in May 2023, with consumer electronics device production reaching $280 million (¥32,099 million) compared to $230.9 million (¥25,268 million) in May 2022. The increasing demand for electronic devices is expected to drive the growth of the semiconductor memory market.

In the semiconductor memory market, technological advancements are a prominent trend, with key players focusing on developing products featuring advanced technologies to maintain their market position. For example, Lexar International introduced the Lexar ARES DDR4 Desktop Memory in February 2022, designed to enhance PCs with RGB lighting and high-speed DDR4 overclocked performance, catering to gamers seeking improved gaming experiences.

Major companies in the semiconductor memory market are also emphasizing innovation, such as the development of 3D NAND-DRAM. NEO Semiconductor unveiled 3D X-DRAM in May 2023, presenting the world's first 3D NAND-similar DRAM cell array. This technology aims to address DRAM's capacity limitations and act as a comprehensive replacement for 2D DRAM, offering high-speed, high-density, cost-effective, and high-yield solutions.

In August 2021, strategic acquisitions contribute to market dynamics. Renesas Electronics Corporation acquired Dialog Semiconductor PLC for $5.7 billion, expanding its market presence by integrating Dialog's low-power mixed signal solutions, connectivity expertise, flash memory, batteries, and power management.

Major companies operating in the semiconductor memory market report are Micron Technology Inc., Samsung Electronics Co. Ltd., SK hynix Inc., Intel Corporation, International Business Machines Corporation (IBM), Fujitsu Limited, Cypress Semiconductor Corporation, Toshiba Corporation, Integrated Silicon Solution Inc., Macronix International Co. Ltd., Taiwan Semiconductor Manufacturing Company Limited (TSMC), Texas Instruments Incorporated, Crocus Technology SA, Everspin Technologies Inc., NXP Semiconductors N.V., ROHM Co. Ltd., STMicroelectronics N.V., Maxim Integrated Products Inc., NVIDIA Corporation, Kioxia Corporation, Analog Devices Inc., Applied Materials Inc., Microchip Technology Incorporated, Semiconductor Components Industries LLC, Renesas Electronics Corporation, Infineon Technologies AG, Winbond Electronics Corporation, Alliance Memory Inc., GigaDevice Semiconductor (Beijing) Inc., ISSI/Chingis Technology Corporation, Adesto Technologies Corporation, Netlist Inc.

Asia-Pacific was the largest region in the semiconductor memory market in 2023. The regions covered in the semiconductor memory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the semiconductor memory market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The major types of semiconductor memory include SRAM, MRAM, DRAM, flash ROM, and others. SRAM, or Static Random-Access Memory, is a type of semiconductor device that allows for faster read and write times compared to DRAM, with a significantly shorter cycle time (usually 10 ns against 60 ns for DRAM) because it doesn't require waiting between accesses. Key technologies involved in semiconductor memory include RAM (Random-Access Memory) and ROM (Read-Only Memory). Semiconductor memory finds applications in various sectors, including consumer electronics, IT and telecommunications, automotive, industrial, aerospace and defense, medical, and others.

The semiconductor memory market research report is one of a series of new reports that provides semiconductor memory market statistics, including semiconductor memory industry global market size, regional shares, competitors with a semiconductor memory market share, detailed semiconductor memory market segments, market trends and opportunities, and any further data you may need to thrive in the semiconductor memory industry. This semiconductor memory market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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